OfflineSo the deal in bako on the trailer finally closed today (friday) and I made an appointment to walk it with my repair guy who lives there.This is the one I had the call from my bandit sign on in taft. Bought it for 2k and back taxrs ect. Had a total of $9,100 in it. So, I go over and get out of the truck (we buy houses SUV) and the guy that lives next door step up to me and ask if I was buying it or trying to find the owner. I told him that I closed on it friday and will be fixing it up. e stated I want to buy it because I have been looking for the owner for two years and I want to put my mom in it. I told him I thought it was worth 35 to 40k fixed with an owner carry. The next words out of his mouth was will you take 20k and I said 25k..Deal... Crap that was fast...So monday I will do a contract with him (lesson learned always have a contract with you in you car)which will never happen again I am telling you. So the deal was 22.5k down and $210 per month for 12 months no interest. It is a get deal for both of us. He walks in with equity and I don't have to touch it. NOW GO GET SOME
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266
Wow what a great deal you came across. I do agree that you should always have contracts in the car. I lost out on a deal from not having a contract on me when I went to see a seller in the past and told him we can sign the contract the next day, well the seller called me back and told me someone else offered him more and he got a down payment for the property. So moral of the story, someone snatch my deal because I wasn't prepared. A very good lesson learned.
Reynold Orozco